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AI Generation: Can Humans and Artificial Intelligence Coexist?
ACCOUNTING
February 2022
Veli Kattoulas
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Last Updated on June 30, 2023
With the rapid advancements in the application of Artificial Intelligence (AI) in business, the impact of AI is undeniable. From virtual personal assistants to revolutionising industries, AI is transforming the way we conduct business. Explore the latest artificial intelligence applications in various industries below:
Applications of Artificial Intelligence in this sector include chatbots, fraud detection, and task automation. This will streamline business processes and offer customers access to their bank accounts and financial advice through robo advisors 24/7, ensuring better customer experience and satisfaction.
One banking institution that has successfully leveraged AI is
AI is becoming synonymous with the concept of automation, meaning that business processes can be executed automatically without any human intervention, minimising the possibility of human errors and increasing efficiency. This makes it ideal for manufacturing and assembly processes. However, as time goes on, the applications of Artificial Intelligence have become more sophisticated.
A case in point is the
The presence of Artificial Intelligence and machine learning has allowed doctors to save time in treatment planning. By feeding the learning algorithms numerous data sets from different patients and diseases, AI can analyse and advise on the best course of action for new patients. By doing so, doctors would not need to spend hours developing the right treatment plan. One healthcare company that has leveraged this technology is
The
As the latest advancements in the application of artificial intelligence continue to unfold, we can anticipate further innovations and applications in the e-commerce industry. From personalised marketing strategies to intelligent inventory management, AI is reshaping the way businesses operate and engage with customers in the digital landscape.
But the applications of Artificial Intelligence also come with challenges, like a small talent pool of available experts, and the hesitancy of employees to work alongside it – fearing that Artificial Intelligence will replace them.
Their fear is not without reason; research conducted by
Despite the latest Artificial Intelligence applications it still cannot replace several sectors that need a ‘human touch,’ such as doctors and nurses in healthcare. A.I. has not yet been able to form ‘connections’ with humans, sharing the same values and empathy.
The lack of human values may lead to AI facilitating unlawful acts such as wars between nations leveraging autonomous robots. Therefore, having regulations on artificial intelligence ethics is essential. One example was when
According to a
Like any other technological advancement, the benefits of artificial intelligence can be a boon to the human race. But, the applications of Artificial Intelligence must not lead to a global employment crisis. It is also essential that AI and machines live alongside and benefit each other in the years to come.
Whether you are exploring the application of artificial Intelligence in business or seeking the latest advancements in technology, Lanturn is here to support you. With our comprehensive range of services, including
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